December 22, 2012

S&P 500 Weekend update

  • SPX Daily chart shows volume spike for the bearish candle.
  • Price managed to hold above 20 Day SMA. MACD Histogram shows negative divergence which will favor bulls only if price stays below 20 Day SMA.
  • Fib level shows price falling from 78.6% Fib level. More falls if the Golden ratio does not hold.

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